TF Group
Also known as: Taycor Financial, SBA Los Angeles, SBA LA, SBADisasterLoan.org, Small Business Advocates, Madison Funding Partners, Inc., NYMBUS, Inc., USAFunding.com.
The FTC and SBA warned six companies that their marketing could mislead small businesses about SBA affiliation or the ability to apply through their sites for PPP and other CARES Act programs.
Documented. Subject of a regulatory action, lawsuit, or other official proceeding on the public record.
Identity
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- Locations
- California · New York · Florida
- Other handles
- disasterloanassistance.com · SBADisasterLoan.org · USAFunding.com
- Jurisdictions
- United States (federal)
Agencies warned six marketers about SBA-related claims
The Federal Trade Commission and U.S. Small Business Administration sent warning letters to six companies whose marketing could lead small businesses to believe they were affiliated with the SBA or could accept applications for Paycheck Protection Program or other CARES Act loans.
The agencies warned California-based TF Group, doing business as Taycor Financial, about disasterloanassistance.com. The release says the site used the SBA logo, offered “COVID-19 SBA Loan Programs,” and invited visitors to “Quick Apply.” SBADisasterLoan.org was warned about claims that it operated from the SBA’s Washington address and offered “SBA Lending experts” and “SBA Loan Officers.”
Small Business Advocates - Los Angeles, doing business as SBA Los Angeles, was warned about its use of “SBA Los Angeles” and “SBA LA” and its claim to offer SBA loans. Madison Funding Partners, Inc. was warned about invitations to apply for a PPP loan or get matched with a lender. NYMBUS, Inc. was warned about a claim that it could process an SBA Paycheck Protection Loan faster than any other source. USAFunding.com was warned about describing the PPP program and urging visitors to apply immediately.
The letters directed the recipients to remove deceptive claims, remediate any resulting harm, and tell the FTC within 48 hours what actions they had taken.
What is not established
The release reports warning letters about potentially misleading marketing. It does not report a court judgment, a filed complaint against these recipients, or a consumer-loss amount.
Sources
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- Enforcement action June 24, 2020
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First recorded June 24, 2020 · Last updated June 24, 2020